A Home Equity Loan is a loan obtained on a property that already has a primary mortgage. The house itself serves as collateral for both the primary mortgage and any second mortgage, which means that failure to pay either could result in the property being forfeited....
As you may have heard, mortgage rates are going up daily, making it nearly difficult for you to afford mortgage instalments. Here are a few ways to still help you save money on the mortgage. Follow these tips, which will help you save on your mortgage. Work on...
Mortgage rates are rising, making it difficult for new home buyers to afford the home repayments. Here are some tips to help you figure out which type of rate is best for your income & lifestyle. What is a Fixed Rate Mortgage? A fixed-rate mortgage has an...
In mortgage refinance, the bank or lender pays off your previous loan and replaces it with a new one; this is why the term refinance is used. Most borrowers go for refinancing to lower their interest rate and shorten their payment term or to take advantage of shifting...
A credit score of 680+ is vital to qualify for the best mortgage rates. But there are many other factors to know about credit scores and how they affect your mortgage rates. Most people don’t even know where to check their credit scores. Whether you get your...
A mortgage is one of the biggest commitments a consumer can make, considering the average mortgage cost in Canada has gone up significantly in recent years. According to one statistic, the average Canadian resale home price hovered just above $716,000.00. Before...
At Leap Financial, getting approved for a loan with us is easy, and unlike traditional financial institutions where approval of mortgage loans is dependent on your income and credit rating, approval of mortgage loans at Leap Financial is dependent on the equity in your property and only your equity in your property. We can help get you approved for a home equity loan in no time!
